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Insurance Article

Significance of Travel insurance

May 09 2012

lack of knowledge. Even if people know about insurance, they do not want to buy one because they are generally afraid of heavy premiums. However, nowadays insurance policies are available at low cost. Travel insurance is the cover for the risk you might face in your trip, overseas or domestic; typically, it covers death, personal accidents, medical expenses, repatriation, and loss/delay delay of checked baggage, passport loss and third party liability. People generally travel for pleasure or business. Therefore, do not want anything to ruin their hard earned holiday or their crucial business meeting. However, there can be some unexpected occurrences no matter how perfect the planning is. Unfortunate events such as baggage loss, passport loss, a medical emergency or accidents affect your trip badly.

Having travel insurance protects you from all such problems. It gives you satisfaction and ensures that in the unknown foreign land you are not alone in any kind of emergency. The standard travel policy covers – death, personal accidents, medical expenses and any kind of loss. The cost of travel insurance depends on a number of factors such as – the age of the person, the duration of your trip, the place you plan to visit and the benefits included in the plan. The premiums generally charged on the slab basis .There are pre defined slabs from which you need to select which one you fall into.

There are several types of travel insurance, depending on the type of trip bad length of stay.The first and most common is trip cancellation / interruption coverage. Most of these policies cover cancellation due to weather, sudden illness or death, jury duty, emergency military duty, and bankruptcy of airline or cruise line prior to departure. This may also include terrorism insurance that reimburses your expenses in the event. Another common type of travel insurance is for medical emergencies. This type of coverage is particularly useful if you plan to travel to under developed countries or with individuals with a chronic illness that might require medical attention at some point during the trip. These policies will save you from the cost of doctor visits and medication. It is better to check with your insurance provider regarding the details, as travel health coverage policies vary widely. It is also possible to obtain travel insurance that will cover non-refundable tickets in the event that a trip has to be cancelled for any number of reasons.

For longer trips or for frequent travellers a comprehensive insurance package is probably the best value. These usually provide a wide variety of insurance coverage, and some even allow you to choose what kind of coverage to be included. As it is impossible to know what problem might arise during the trip. Choose the policy, which can protect you against any kind of monetary loss also which can give you peace of mind and satisfaction.

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